This paper analyses a transboundary pollution problem between two countries and studies the efficiency comparison of uniform versus differentiated abatement standards when there are imperfect transfers between countries. To achieve this goal, we use a negotiation game and the Nash bargaining...

On the example of a pure-exchange financial economy with two periods, incomplete nominal asset markets and differential information of the adverse selection's type, Cornet-De Boisdeffre (2002) introduced refined concepts of price, arbitrage and a so-called «no-arbitrage equilibrium», which...

This paper gives some insights related to the combination of exploration and exploitation behaviors. A recurrent question for firms deals with this blend of exploration and exploitation mechanisms. Firms are engaged in new activities like research and at the same time in more routine ones like...

In this paper, we examine the effect of a decrease in risk on the demand for risky asset in the standard portfolio problem. We introduce a new class of dominance, that we name relative order and we prove that this class of dominance is consistent both with central dominance introduced by Gollier...

In this paper, we introduce input-specific externalities in a dynamic general equilibrium model with heterogeneous households and a finance constraint (Woodford (1986)). In contrast to existing papers, average labor and capital have not a positive impact on the total productivity of factors, but...

Recently, Nicolas Bouleau has proposed an extension of the Donsker's invariance principle in the framework of Dirichlet forms. He proves that an erroneous random walk of i.i.d random variables converges in Dirichlet law toward the Ornstein-Uhlenbeck error structure on the Wiener space [4]. The...

We prove the existence of subsidy free and sustainable pricing schedule in multiproduct contestable markets. We allow firms to discriminate the local markets that are composed by a set of the products line and a set of agents. Results are obtained under an assumption of fair sharing cost and...

This paper analyzes the implications of the distribution of emission permits related to a strategic environmental policy and shows how it alters the competitive relation among firms in the international product market. Our model introduces permits trading into the Brander-Spencer [1985]...

We show that the presumed incompatibility of uncoordinated R&D and competition is not fundamental, but hinges on the nature of R&D spillovers. As a consequence, R&D subsidies may be more effective than previously thought.